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Corporate > Restructuring

Begbies launches worldwide advisory group

Professional services firm Begbies Traynor Group has announced the launch of BTG Global Advisory – an international alliance of independent insolvency, restructuring and financial advisory firms operating around the world. Read full story

Insolvency fees to be shown upfront

Insolvency practitioners will have to provide upfront estimates of the cost of working on insolvency cases, under new rules announced today. Read full story

Lloyds’ profits rise £1.4bn, as PPI charge tops £12bn

Lloyds Banking Group has posted a £1.4bn pre-tax profit rise for 2014, while bad debt charges across personal loans, mortgages and current accounts fell 21 per cent to £600m. Read full story

MoJ caves under pressure to help creditors

The government has caved under pressure to change a policy which will ensure that an estimated £160m can be returned to creditors from insolvencies. Read full story

King & Spalding appoints London restructuring partner

Law firm King & Spalding has announced the appointment of English-qualified lawyer Elisabeth Baltay as a partner to its financial restructuring practice in London. Read full story

Café Rouge owner restructuring finalised

Tragus Group, the owner of the Café Rouge and Bella Italia brands, has announced the successful completion of its organisational and financial restructuring. Read full story

Restructuring plans impact on outsourcing giants

Two of the UK’s largest private sector outsourcing firms, Serco and G4S, have reported the effects of on-going restructuring plans. Read full story

Café Rouge owner CVA approved

The creditors of dining operator Tragus Group, owner of Café Rouge and Bella Italia, have approved plans for a company voluntary arrangement (CVA) leading to restructuring of the business. Read full story

Punch Taverns brings in restructuring adviser

Embattled pub group Punch Taverns has brought in an independent restructuring adviser to restructure its £2.3bn debt. Read full story

Coalfield Resources restructuring pays off as profits jump

The former parent company of the UK’s largest coal mining operation has announced a return to profit following a restructuring of the business. Read full story

Rail network announces restructuring

Rail network London Midland has announced it will carry out a restructuring of its business, resulting in 150 redundancies. Read full story

Morrisons to restructure after £176m loss

Supermarket giant Morrisons has announced plans to restructure the business following a £176m loss for the year to the end of February 2014. Read full story

Punch chairman’s last ditch plea to lenders

The possible failure to pass a debt restructuring plan will lead to at least five years of “mess” and “uncertainty”, Punch Taverns will warn lenders. Read full story

London nursery rescue plan leads to sale

A Tooting-based charity-run nursery has been sold as part of a rescue plan to avoid entering administration. Read full story

Report claims businesses being “sunk” by RBS

A government adviser has published a damning report on the Royal Bank of Scotland’s (RBS) treatment of “viable” UK businesses. Read full story

Restructuring plan sees Mothercare return to profit

Maternity retailer Mothercare plc has seen its first return to underlying profit since 2011, as the firm also warns consumer spending is likely to “remain subdued”. Read full story

Hydroponics firm restructure leads to sale

A Yorkshire-based specialist hydroponics product retailer has been bought out of administration. Read full story

Food processor Ensors sold in pre-pack deal

A food processing business and its assets have been bought out of administration as part of a pre-pack deal which has secured 136 jobs. Read full story

Distressed Investing on TMA agenda

Distressed Investing is to be a key topic at the Turnaround Management Association (TMA) Europe’s conference in London later this month. Read full story

Comet backers pocket £54m

The sale of stock and equipment from collapsed electrical retailer Comet has netted the company’s main secured creditor £54m. Read full story